Clarity Financial LLC Buys 24,805 Shares of Alphabet Inc. $GOOG

Clarity Financial LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 15.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,981 shares of the information services provider’s stock after purchasing an additional 24,805 shares during the period. Alphabet makes up 3.5% of Clarity Financial LLC’s holdings, making the stock its 8th largest position. Clarity Financial LLC’s holdings in Alphabet were worth $32,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Robbins Farley grew its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the first quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the first quarter valued at $32,000. Finally, Goodman Advisory Group LLC bought a new stake in Alphabet during the 1st quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.0%

GOOG stock opened at $246.45 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The stock has a market cap of $2.98 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a fifty day moving average price of $221.89 and a two-hundred day moving average price of $187.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Oppenheimer reissued an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. UBS Group boosted their price target on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday. Finally, Mizuho raised shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Five analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.33.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.